Dortkamp and Australian Securities and Investments Commission

Dortkamp applied to the Federal Court of Australia for a stay of a banning order made by the Australian Securities and Investments Commission (ASIC). The application was brought under section 41(2) of the *Administrative Appeals Tribunal Act 1975* (Cth).

The primary legal issue before the Court was whether to grant a stay of ASIC's banning order pending the determination of Dortkamp's substantive appeal to the Administrative Appeals Tribunal. In considering this application, the Court was required to assess the prospects of success of the appeal, the financial consequences for Dortkamp if a stay were refused, and the public interest considerations.

Deputy President Rayment OAM QC granted the stay, finding that the prospects of success on appeal were arguable and that the financial consequences for Dortkamp of the banning order remaining in effect were significant. The Court also considered that the public interest did not weigh against granting the stay. The stay was granted subject to certain conditions, reflecting the Court's balancing of the competing interests.